German medical imaging software developer MeVis Medical Solutions reported flat revenue growth and a slight increase in earnings in its second quarter of 2014.
For the quarter (end-30 June), the vendor had sales of 3.2 million euros, which is the same as last year. While sales in the digital mammography segment increased by 7% to 4.7 million euros, sales in the "other diagnostics" segment fell by 23% to 1.3 million euros. Net profit for the period was 1.7 million euros, compared with 1.6 million euros in the same period last year.
However, the 6.1 million euros in sales in the first half of the year were marginally lower than the 6.2 million euros reported in the first half of 2013. The company is now forecasting that sales for current fiscal year will range between 12 million and 12.5 million euros, a slight decline from 2013. Earnings before interest and taxes (EBIT) are anticipated to reach 3.0 million to 3.5 million euros, impacted significantly by the forecasted sales decline and a marginal increase in costs.
MeVis is expanding its product portfolio to reduce dependency on the digital mammography segment, CEO Marcus Kirchhoff noted in a statement. In particular, MeVis has begun developing its own software for lung cancer screening in close cooperation with the University of Nijmegen in the Netherlands. MeVis expects to complete the software in the third quarter of 2014.